2: cybercrime and online banking safety

November 20, 2008

Cybercrime as destructive as credit crisis

....Criminal organizations are exploiting a regulatory vacuum to commit

internet crimes such as computer spying, money-laundering and theft of

personal information, and the scope for damage is vast, experts told a

European Economic Crime conference in furt.

" We need multilateral understanding, account and oversight to avoid,

in the years to come, a cyber crisis equivalent to the current

financial crisis, " Costa, Executive Director of the

United Nations Office on Drugs and Crime, said.

Internet crime is also a threat to national security, they said.

Several countries, including the United States, have voiced concern

over Russia's and China's abilities to electronically spy on them and

disrupt computer networks.

Calls for greater regulation of the internet come at a time of

regulatory renaissance, with policymakers looking to bolster the

powers of financial sector watchdogs in the wake of the global

financial crisis.

" Because of the transnational nature of identity-related crime, and

especially of cybercrime, if we do not tackle the crime everywhere we

will not solve it anywhere, " Costa said.

The President of Interpol, Khoo Boon Hui, said increasingly tech-savvy

gangs from China, India, Eastern Europe and Africa were coming up with

ever more sophisticated ways of swindling money from vulnerable people.

He also said there was a trend of company bosses being bribed by

fraudsters claiming to have incriminating evidence about their firms...

Good Question: How can I bank online safely?

.... One trick for thwarting hackers is to use two different Web browsers.

Use one for daily Web surfing. Grossman calls that browser a

" sacrificial lamb. " It sops up any attacks that might come your way

during normal surfing — everything except online banking.

Then use an alternate browser only for online banking, and close it

once you're done...

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